Legacy Solutions LLC Takes $794,000 Position in Microsoft Co. (NASDAQ:MSFT)

Legacy Solutions LLC purchased a new position in shares of Microsoft Co. (NASDAQ:MSFT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,883 shares of the software giant’s stock, valued at approximately $794,000. Microsoft makes up approximately 0.9% of Legacy Solutions LLC’s portfolio, making the stock its 21st largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Assenagon Asset Management S.A. grew its stake in shares of Microsoft by 76.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 10,532,402 shares of the software giant’s stock valued at $4,439,407,000 after acquiring an additional 4,568,539 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Microsoft by 2.0% in the third quarter. Geode Capital Management LLC now owns 165,024,812 shares of the software giant’s stock valued at $70,790,682,000 after purchasing an additional 3,264,648 shares during the last quarter. Baillie Gifford & Co. grew its stake in Microsoft by 46.1% during the 3rd quarter. Baillie Gifford & Co. now owns 7,048,244 shares of the software giant’s stock valued at $3,032,859,000 after purchasing an additional 2,222,483 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Microsoft by 4.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 54,590,791 shares of the software giant’s stock worth $23,490,417,000 after purchasing an additional 2,125,030 shares during the last quarter. Finally, Strategic Financial Concepts LLC raised its position in shares of Microsoft by 43,900.4% in the 4th quarter. Strategic Financial Concepts LLC now owns 2,042,499 shares of the software giant’s stock valued at $860,913,000 after purchasing an additional 2,037,857 shares in the last quarter. Hedge funds and other institutional investors own 71.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MSFT. Bank of America dropped their price target on shares of Microsoft from $510.00 to $480.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. BMO Capital Markets reduced their price target on shares of Microsoft from $490.00 to $470.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $500.00 price objective on shares of Microsoft in a report on Thursday, January 30th. Mizuho reduced their target price on Microsoft from $510.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Finally, Scotiabank assumed coverage on Microsoft in a research report on Thursday, March 20th. They issued a “sector outperform” rating and a $470.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $497.63.

Microsoft Stock Up 2.1 %

Microsoft stock opened at $366.82 on Wednesday. Microsoft Co. has a 52 week low of $344.79 and a 52 week high of $468.35. The company has a current ratio of 1.35, a quick ratio of 1.34 and a debt-to-equity ratio of 0.13. The stock has a market cap of $2.73 trillion, a price-to-earnings ratio of 29.53, a PEG ratio of 2.21 and a beta of 1.00. The company’s 50-day moving average price is $386.38 and its two-hundred day moving average price is $411.95.

Microsoft (NASDAQ:MSFT) last released its earnings results on Wednesday, January 29th. The software giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.15 by $0.08. Microsoft had a return on equity of 33.36% and a net margin of 35.43%. During the same quarter last year, the company earned $2.93 EPS. On average, analysts expect that Microsoft Co. will post 13.08 EPS for the current fiscal year.

Microsoft Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Thursday, May 15th. Microsoft’s dividend payout ratio is 26.73%.

About Microsoft

Microsoft Corporation develops and supports software, services, devices and solutions worldwide. The Productivity and Business Processes segment offers office, exchange, SharePoint, Microsoft Teams, office 365 Security and Compliance, Microsoft viva, and Microsoft 365 copilot; and office consumer services, such as Microsoft 365 consumer subscriptions, Office licensed on-premises, and other office services.